Insider Buying: Northpointe Bancshares (NYSE:NPB) CEO Buys $508,500.00 in Stock

Key Points

• Northpointe Bancshares CEO Charles Alan Williams bought 30,000 shares at $16.95 each, investing $508,500 and increasing his stake by 1.3% to 2.34 million shares. He also purchased an additional 48,312 shares worth approximately $818,888.40 the following day.
• Northpointe shares recently traded near $16.94, below their 50-day and 200-day moving averages, with a 52-week range of $15.42 to $19.71.
• The company’s latest quarterly earnings missed analyst expectations, reporting $0.60 in EPS versus a $0.68 consensus estimate. Analysts have a mixed outlook, with an overall “Hold” rating and a consensus price target of $20.62.

Northpointe Bancshares, Inc. (NYSE:NPB - Get Free Report) CEO Charles Alan Williams acquired 30,000 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The stock was acquired at an average cost of $16.95 per share, with a total value of $508,500.00. Following the completion of the acquisition, the chief executive officer owned 2,342,650 shares in the company, valued at $39,707,917.50. This trade represents a 1.30% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Charles Alan Williams also recently made the following trade(s):

• On Wednesday, August 26th, Charles Alan Williams bought 48,312 shares of Northpointe Bancshares stock. The shares were acquired at an average cost of $16.95 per share, for a total transaction of $818,888.40.

Northpointe Bancshares Stock Performance

Shares of NYSE:NPB traded down $0.01 during trading on Wednesday, hitting $16.94. 164,909 shares of the company were exchanged, compared to its average volume of 231,352. The company has a market cap of $585.79 million, a PE ratio of 7.33 and a beta of 0.07. The stock has a 50 day moving average of $17.90 and a 200 day moving average of $17.73. Northpointe Bancshares, Inc. has a 52-week low of $15.42 and a 52-week high of $19.71. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.40 and a quick ratio of 1.34.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.08). Northpointe Bancshares had a net margin of 17.72% and a return on equity of 14.99%. The company had revenue of $64.32 million during the quarter. As a group, equities research analysts predict that Northpointe Bancshares, Inc. will post 2.48 EPS for the current year.

Northpointe Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 4th. Shareholders of record on Wednesday, July 15th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, July 15th. Northpointe Bancshares's payout ratio is presently 4.33%.

Analysts Set New Price Targets

NPB has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Thursday, July 2nd. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Northpointe Bancshares in a research note on Friday, May 29th. Keefe, Bruyette & Woods decreased their target price on shares of Northpointe Bancshares from $22.00 to $21.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. Finally, Zacks Research cut shares of Northpointe Bancshares from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $20.62.

Hedge Funds Weigh In On Northpointe Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NPB. Cubist Systematic Strategies LLC bought a new position in Northpointe Bancshares in the 1st quarter worth about $26,000. Goldman Sachs Group Inc. bought a new stake in shares of Northpointe Bancshares during the 1st quarter valued at about $9,908,000. Jane Street Group LLC purchased a new position in shares of Northpointe Bancshares during the first quarter worth about $146,000. Geode Capital Management LLC grew its holdings in shares of Northpointe Bancshares by 138.9% during the second quarter. Geode Capital Management LLC now owns 234,789 shares of the company's stock worth $3,220,000 after purchasing an additional 136,490 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new position in shares of Northpointe Bancshares in the second quarter worth approximately $776,000.

About Northpointe Bancshares

Northpointe Bancshares, Inc is the bank holding company for Northpointe Bank, an FDIC-insured community bank based in Michigan. The company offers a full range of commercial and consumer banking solutions, serving retail, small business and corporate clients through both a physical branch network and digital platforms.

Northpointe Bank’s product suite includes interest-bearing checking and savings accounts, money market and certificate of deposit offerings, as well as residential mortgage lending, home equity financing and unsecured consumer loans.

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